Anti-Dumping Duty
International Economics Economics
An extra import tariff imposed after an anti-dumping investigation finds dumping and injury.
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Anti-Pollution Measures
Economics Public Finance
Policies that reduce pollution by pricing emissions, limiting them directly, or changing incentives.
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Anticipated Inflation
Macroeconomics
Inflation that households and firms expect and incorporate into wages, prices, and nominal interest rates.
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Antitrust
Market Structure Microeconomics
Competition policy that targets cartels, exclusionary conduct, and mergers that harm market rivalry.
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Applied Microeconomics
Microeconomics Econometrics
The use of microeconomic theory and data to answer real-world questions about households, firms, and policy.
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Apprenticeship
Labor Economics Economics
A paid training arrangement that combines work experience with structured skill formation.
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Appropriation Account
Accounting Corporate Finance
An accounting statement showing how profit is allocated after it has been earned.
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Appropriation Bill
Public Finance Economics
Legislation that authorizes the government to spend public money for approved purposes.
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Arbitrage
Investments Economics
Profiting from price differences for the same or equivalent asset across markets or forms.
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Arbitrage Pricing Theory
Investments Valuation
A multi-factor asset pricing framework where no-arbitrage implies expected returns are linear in factor exposures.
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Arbitrageur
Investments Market Structure
A trader who exploits pricing inconsistencies and helps push markets toward more consistent prices.
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Arbitration
Economics
A dispute-resolution process where a neutral arbitrator issues a decision (often binding) outside the court system.
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Arc Elasticity
Microeconomics Statistics
An average elasticity measured between two points using the midpoint formula.
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ARFIMA
Econometrics Statistics
An autoregressive fractionally integrated moving average model that captures long memory via fractional differencing.
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Arm's-Length Price
Taxation International Economics
The price unrelated parties would agree to under comparable market conditions.
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Arrears
Credit and Lending Personal Finance
Overdue payments on a contract (rent, mortgage, utilities, child support) after one or more missed due dates.
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Arrow-Debreu Economy
Microeconomics Economics
A general-equilibrium model with complete contingent-commodity markets.
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Arrow-Debreu State Price
Valuation Economics
The current price of one unit of payoff delivered in one specific future state.
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Arrow's Impossibility Theorem
Economics
A result showing that no voting rule can satisfy several appealing fairness conditions at the same time.
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Asia-Pacific Economic Cooperation (APEC)
International Economics Economics
A regional forum that promotes trade, investment, and economic cooperation across the Asia-Pacific.
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Asian Financial Crisis (1997–1998)
International Economics Macroeconomics
A regional crisis of capital-flow reversals, currency collapses, and banking distress across several Asian economies.
Read more about Asian Financial Crisis (1997–1998).
Asian Infrastructure Investment Bank (AIIB)
Development Economics International Economics
A multilateral development bank that finances infrastructure and related development projects, especially in Asia.
Read more about Asian Infrastructure Investment Bank (AIIB).
Assembly Line
Microeconomics
A production system where a product moves through sequential workstations, enabling specialization and high throughput.
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Asset Motive (Speculative Motive for Holding Money)
Macroeconomics Economics
The reason people hold money when they prefer liquidity over interest-bearing assets.
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Asset Prices
Investments Valuation
The market value of claims on future payoffs, shaped by expected cash flows, discount rates, and risk premia.
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Asset Stripping
Corporate Finance Economics
A takeover or restructuring strategy focused on selling valuable assets rather than operating the firm as an integrated business.
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Asset-Backed Security (ABS)
Fixed Income Banking
A security whose cash flows come from a pool of underlying loans or receivables.
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Assets
Accounting Economics
Resources with economic value that can generate future benefits.
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Assisted Area
Development Economics Labor Economics
A region targeted for government support because of persistent economic disadvantage or weak labor-market conditions.
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Asymmetric Information
Microeconomics Economics
A situation in which one side of a transaction knows more relevant information than the other.
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Asymmetric Shocks
Macroeconomics International Economics
Economic shocks that affect regions, sectors, or countries differently rather than uniformly.
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Asymptotic Distribution
Econometrics Statistics
The limiting probability distribution that approximates how a statistic behaves in large samples.
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Asymptotic Theory
Econometrics Statistics
The study of how estimators and test statistics behave as sample size becomes large.
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Atkinson Index
Public Finance Statistics
An inequality measure based on equally distributed equivalent income, with an explicit parameter for inequality aversion.
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Auction
Microeconomics Market Structure
A market mechanism in which price and allocation are determined through bids.
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Auctioneer
Microeconomics Market Structure
The person or institution that runs an auction and enforces its bidding rules.
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Audit
Accounting Economics
An independent review of financial records and controls designed to improve credibility and reduce information problems.
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Auditor
Accounting
A professional (or firm) that examines financial information and controls to provide assurance that financial statements are fairly presented.
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Augmented Dickey-Fuller Test
Econometrics Statistics
A time-series test used to check whether a variable contains a unit root.
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Augmented Phillips Curve
Macroeconomics Economics
A Phillips-curve framework that adds inflation expectations to the inflation-unemployment relationship.
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Austerity Measures
Public Finance Macroeconomics
Policies that reduce budget deficits through lower public spending, higher taxes, or both.
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Autarchy
International Economics Economics
A condition of economic self-sufficiency in which a country relies little or not at all on international trade.
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Authorized Capital (Authorized Share Capital)
Corporate Finance
The maximum share capital a corporation is legally permitted to issue under its charter or governing documents.
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Autocorrelation
Econometrics Statistics
Correlation between a variable and its own lagged values in a time series.
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Autocorrelation Coefficient
Econometrics Statistics
The correlation between a time series and a lagged version of itself.
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Autocorrelation Function (ACF)
Econometrics Statistics
A sequence of correlations between a time series and its own lagged values, used to describe persistence and guide time-series modeling.
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Autocovariance
Econometrics Statistics
Covariance between a time series and its own lagged values.
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Autocovariance Function
Econometrics Statistics
The sequence of autocovariances of a stationary time series across different lags.
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Automated Econometrics
Econometrics Statistics
The use of algorithms to assist with model specification, estimation, testing, and selection in econometric work.
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Automatic Stabilizers
Public Finance Macroeconomics
Built-in features of the fiscal system that soften booms and recessions without new legislation.
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Automation
Labor Economics
Using machines, software, or algorithms to perform tasks with limited human intervention, affecting productivity and labor markets.
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Autonomous Consumption
Macroeconomics
Understanding autonomous consumption - the component of consumption that is independent of current income.
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Autonomous Investment
Macroeconomics Economics
Investment spending that does not depend directly on current income or output.
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Autonomous Pension Funds
Risk Management Economics
Pension funds that are institutionally separate from the sponsoring employer or government budget.
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Autoregressive Conditional Heteroscedasticity (ARCH)
Econometrics Statistics
A time-series model in which current volatility depends on past squared shocks.
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Autoregressive Integrated Moving Average (ARIMA) Model
Econometrics Statistics
A time-series forecasting model that combines autoregression, differencing, and moving-average shocks.
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Autoregressive Moving Average (ARMA (p, q)) Model
Econometrics Statistics
A time-series model that combines lagged values of a series with lagged shocks.
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Autoregressive Process
Econometrics Statistics
A time-series process in which current values depend on past values of the same series.
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Average Cost
Microeconomics Economics
Total cost per unit of output.
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Average Cost Pricing
Market Structure Public Finance
Pricing that sets price high enough to cover average total cost.
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Average Earnings Scheme
Risk Management Labor Economics
A pension scheme in which benefits are based on average earnings rather than only final salary.
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Average Tax Rate
Taxation Economics
Total tax paid divided by the total tax base.
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Averch–Johnson Effect
Market Structure Public Finance
A distortion under rate-of-return regulation where firms may choose an inefficiently capital-intensive input mix.
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Avoidable Cost
Microeconomics Economics
A cost that disappears if a product, activity, or decision is not undertaken.
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Avoidance
Taxation Economics
Lawful structuring of behavior or transactions to reduce tax liability.
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Axiom
Economics
A basic assumption accepted without proof and used to build an economic model or theory.
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Axioms of Preference
Microeconomics Economics
Basic assumptions used to describe rational preferences in consumer theory.
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Backdoor Monetary Policy
Macroeconomics Banking
Non-transparent central bank actions that influence liquidity, rates, or markets outside standard public channels.
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Backward Induction
Microeconomics
A method for solving sequential games or decisions by analyzing from the final stage back to the first.
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Backward Integration
Market Structure Microeconomics
Expansion by a firm into the production or control of its own inputs.
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Backward-Bending Supply Curve
Labor Economics Microeconomics
A labor supply curve that slopes up at lower wages but bends backward at higher wages as income effects outweigh substitution effects.
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Backwardation
Trading Investments
A futures-market situation in which futures prices are below the current spot price.
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Bad Bank
Banking Public Finance Risk Management
A vehicle that purchases and works out non-performing or distressed assets so core banks can clean their balance sheets.
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Bad Debt
Accounting Credit and Lending
Debt that is unlikely to be collected and must be recognized as a loss by the lender or seller.
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Bad Debt Provision
Accounting Credit and Lending Banking
An accounting charge that sets aside an allowance for expected losses on loans or receivables.
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Bad Money Drives Out Good (Gresham’s Law)
Macroeconomics Banking
When two forms of money circulate at a fixed rate, undervalued ‘good’ money is hoarded while overvalued ‘bad’ money remains in circulation.
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Balance
Economics Macroeconomics
A condition of equality or offsetting forces used in economics to describe stable relationships or positions.
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Balance of Payments
International Economics Macroeconomics
The record of a country's transactions with the rest of the world over a period.
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Balance of Trade
International Economics Macroeconomics
The difference between a country’s exports and imports of goods; a core part of the current account.
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Balance Sheet
Accounting Economics
A statement showing assets, liabilities, and equity at a point in time.
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Balance-of-Payments Crisis
International Economics Macroeconomics
A situation where a country cannot finance external payments sustainably, triggering reserve losses, currency pressure, or default risk.
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Balanced Budget
Public Finance Macroeconomics
A budget in which government revenue equals government expenditure over the chosen period.
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Balanced Budget Amendment
Public Finance Macroeconomics
A proposed constitutional rule requiring government expenditures not to exceed revenues within a fiscal year.
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Balanced Budget Multiplier
Macroeconomics Public Finance
In Keynesian models, equal increases in government spending and taxes raise output by exactly the spending increase.
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Balanced Growth Path
Macroeconomics
A trajectory where key aggregates—output, capital, and often consumption—grow at the same constant rate, keeping ratios stable.
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Balances with the Bank of England
Banking Macroeconomics
Reserve balances UK commercial banks hold at the Bank of England to settle payments and meet liquidity needs.
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Balancing Item
Economics Statistics
A statistical adjustment used when two theoretically equal aggregates do not match in measured data.
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Baltic Free Trade Agreement
International Economics
Baltic Free Trade Agreement - A free trade agreement between Estonia, Latvia, and Lithuania established in 1993 and remaining in place until the three countries joined the European Union in 2004.
Read more about Baltic Free Trade Agreement.
Banco del Sur
Development Economics International Economics
A South American regional development bank initiative intended to fund projects and reduce reliance on traditional multilateral lenders.
Read more about Banco del Sur.
Bandwidth (Nonparametric Estimation)
Econometrics Statistics
The smoothing window that controls how much neighboring data influence a nonparametric estimate.
Read more about Bandwidth (Nonparametric Estimation).
Bank
Banking Macroeconomics Credit and Lending
A financial institution that takes deposits, extends credit, and provides payment and financial services.
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Bank Account
Banking Personal Finance
An agreement with a bank to hold and manage funds, enabling deposits, withdrawals, and payments.
Read more about Bank Account.
Bank Deposit
Banking Macroeconomics
Money placed at a bank that becomes a bank liability and a depositor asset.
Read more about Bank Deposit.
Bank for International Settlements
Banking International Economics
An international institution that supports central bank cooperation, monetary stability, and prudential standards.
Read more about Bank for International Settlements.
Bank Loan
Banking Credit and Lending
Credit extended by a bank to a household or firm under agreed repayment terms.
Read more about Bank Loan.
Bank Note
Banking Macroeconomics
A paper currency claim issued under monetary authority and used as a medium of exchange.
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Bank of England
Banking Macroeconomics
The United Kingdom's central bank, responsible for monetary stability and key financial-system functions.
Read more about Bank of England.
Bank Rate
Banking Macroeconomics
The key interest rate set by a central bank as a benchmark for monetary conditions.
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Bank Regulation
Banking Risk Management
Public rules and oversight designed to limit risk-taking and protect the stability of the banking system.
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Bank Run
Banking Macroeconomics
A rush by depositors to withdraw funds because they fear a bank may not be able to repay them.
Read more about Bank Run.
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